Exhibit 99.1

For Immediate Release	Contact:	David F. Kirby
		Hudson Highland Group
		212-351-7216
		david.kirby@hudson.com

Hudson Highland Group Reports 2008

Fourth Quarter and Full-Year Financial Results

NEW YORK, NY – February 17, 2009 – Hudson Highland Group, Inc. (Nasdaq: HHGP), one of the world’s leading providers of permanent recruitment, contract professionals and talent management solutions, today announced financial results for the fourth quarter and full-year ended December 31, 2008.

2008 Fourth Quarter Summary

• Revenue of $207.4 million, a decrease of 28.2 percent from $288.8 million for the fourth quarter of 2007

• Gross margin of $86.5 million, or 41.7 percent of revenue, down 33.2 percent from $129.4 million, or 44.8 percent of revenue for the same period last year

• Adjusted EBITDA* loss of $3.4 million, or 1.6 percent of revenue, down from adjusted EBITDA of $13.1 million for the fourth quarter of 2007

• EBITDA* loss of $76.8 million, including a $67.1 million non-cash impairment charge, detailed later, down from EBITDA of $12.5 million for the same period last year

• Net loss from continuing operations of $78.3 million, or $3.12 per basic and diluted share, compared with net income from continuing operations of $4.3 million, or $0.17 per basic and $0.16 per diluted share, for the fourth quarter of 2007

• Net loss of $80.3 million, or $3.20 per basic and diluted share, compared with net income of $12.0 million, or $0.47 per basic and $0.46 per diluted share, for the fourth quarter of 2007

*Adjusted EBITDA and EBITDA are defined in the segment tables at the end of this release.

2008 Full-Year Summary

• Revenue of $1.08 billion, a decrease of 7.9 percent from $1.17 billion for 2007

• Gross margin of $464.1 million, or 43.0 percent of revenue, a decrease of 8.3 percent from $505.9 million, or 43.1 percent of revenue for 2007

• Adjusted EBITDA* of $20.1 million, or 1.9 percent of revenue, a decrease of 49.8 percent from $40.1 million, or 3.4 percent of revenue, for 2007

• EBITDA* loss of $58.6 million, including a $67.1 million non-cash impairment charge, detailed below, down from EBITDA of $31.3 million, or 2.7 percent of revenue for 2007

• Net loss from continuing operations of $77.4 million, or $3.07 per basic and diluted share, compared with a net income from continuing operations of $3.9 million, or $0.15 per basic and diluted share, for 2007

• Net loss of $74.3 million, or $2.95 per basic and diluted share, compared with net income of $15.0 million, or $0.59 per basic and $0.58 diluted share, for 2007

*Adjusted EBITDA and EBITDA are defined in the segment tables at the end of this release.

“Uncertainty about the future course of world economies, compounded by unprecedented volatility in the global equity markets, had a significant negative impact during the fourth quarter on both permanent and contract hiring intentions across multiple industries and geographies,” said Jon Chait, Hudson Highland Group chairman and chief executive officer. “We expect first quarter demand, historically a seasonal low point, to be soft as well.”

“We took additional steps during the fourth quarter to reduce our cost base as demand declined, and will continue our expense management diligence as these dynamic market conditions play out,” added Mary Jane Raymond, executive vice president and chief financial officer. “We ended the year with $43.9 million in net cash and had positive cash flow from operations for the fourth quarter and full year.”

Goodwill and Other Impairments

On December 18, 2008, the company announced that it was conducting its annual impairment testing of goodwill and other long-term assets during the fourth quarter, and that the company may record a non-cash impairment charge. The process followed the required accounting guidance and the analysis included consideration of factors such as deterioration in macro-economic conditions, their impact on the company’s markets and business performance, and the decline in the market price of the company’s common stock. Based on this analysis, the company recorded a $67.1 million non-cash impairment charge for goodwill and other long-term assets in the fourth quarter of 2008.

Restructuring Program

During the first quarter of 2009, the company expects to continue to streamline its operations in response to shifting market conditions. The company expects to have $3-$5 million of restructuring charges during the first quarter of 2009. During 2008, the company incurred $11.9 million of restructuring charges in conjunction with its 2008 program, including $6.3 million in the fourth quarter of 2008. Fourth quarter expenses were related to severance and reorganization in all three regional businesses of the company. The restructuring charge and the company’s management of costs overall contributed to the $26 million reduction in expenses that offset some of the gross margin decline in the fourth quarter.

Liquidity and Capital Resources

On December 30, 2008, the company announced it had amended its senior secured credit facility with Wells Fargo Foothill. The revised agreement has no minimum EBITDA covenant, but instead requires Hudson to maintain a minimum borrowing availability of $25 million. Borrowings are based on eligible receivables. The maturity date of the amended credit facility remains July 31, 2012. The company ended the fourth quarter of 2008 with $43.9 million in net cash, an increase from $39 million at the end of 2007, and excess availability under the credit facility of $19.7 million.

Share Repurchase Program

On February 4, 2008, the company announced that its board of directors authorized the repurchase of up to $15 million of the company’s common stock. During the fourth quarter, the company repurchased 493,783 shares at a total cost of approximately $1.7 million. Since the inception of the program, the company has repurchased 1,248,456 shares at a total cost of approximately $7.5 million. The company’s amended credit facility prohibits stock repurchases after February 28, 2009.

Guidance

Due to turbulent economic conditions and low visibility, the company will not provide formal guidance for the first quarter of 2009. The company expects operating conditions to remain weak throughout the first quarter. In a normal year, revenue and adjusted EBITDA in the first quarter would be lower than the fourth quarter of the preceding year. In 2009, we expect that this difference would be larger due to the decline in the general economy.

In the first quarter of 2008, the company reported revenue of $295.5 million and adjusted EBITDA of $6.3 million. Last year’s first quarter at current forecast exchange rates would have resulted in revenue of $242.3 million and adjusted EBITDA of $3.7 million.

Additional Information

Additional information about the company’s quarterly results can be found in the shareholder letter and the fourth quarter and full-year earnings slides in the investor information section of the company’s website at www.hudson.com.

Conference Call/Webcast

Hudson Highland Group will conduct a conference call Tuesday, February 17, 2009 at 9:00 AM ET to discuss this announcement. Investors wishing to participate can join the conference call by dialing 1-800-374-1532 followed by the participant passcode 83821257 at 8:50 AM ET. For those outside the United States, please call in on 1-706-634-5594 followed by the participant passcode 83821257. Hudson Highland Group’s quarterly conference call can also be accessed online through Yahoo! Finance at www.yahoo.com and the investor information section of the company’s website at www.hudson.com.

The archived call will be available for one week by dialing 1-800-642-1687 followed by the participant passcode 83821257. For those outside the United States, the call will be available on 1-706-645-9291 followed by the participant passcode 83821257.

About Hudson Highland Group

Hudson Highland Group, Inc. is a leading provider of permanent recruitment, contract professionals and talent management services worldwide. From single placements to total outsourced solutions, Hudson helps clients achieve greater organizational performance by assessing, recruiting, developing and engaging the best and brightest people for their businesses. The company employs more than 3,100 professionals serving clients and candidates in more than 20 countries. More information is available at www.hudson.com.

Safe Harbor Statement

This press release contains statements that the company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including those under the caption “Guidance” and other statements regarding the company’s future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe” and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors include, but are not limited to, the impact of global economic fluctuations including the current economic downturn; the ability of clients to terminate their relationship with the company at any time; risks in collecting our accounts receivable; implementation of the company’s cost reduction initiatives effectively; the company’s history of negative cash flows and operating losses may continue; the company’s limited borrowing availability under our credit facility, which may negatively impact our liquidity; restrictions on the company’s operating flexibility due to the terms of its credit facility; fluctuations in the company’s operating results from quarter to quarter; risks relating to the company’s international operations, including foreign currency fluctuations; risks related to our investment strategy; risks and financial impact associated with dispositions of underperforming or non-core assets; the company’s heavy reliance on information systems and the impact of potentially losing or failing to develop technology; competition in the company’s markets and the company’s dependence on highly skilled professionals; the company’s exposure to employment-related claims from both clients and employers and limits on related insurance coverage; the company’s dependence on key management personnel; volatility of stock price; the impact of government

regulations; restrictions imposed by blocking arrangements. Additional information concerning these and other factors is contained in the company’s filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this letter. The company assumes no obligation, and expressly disclaims any obligation, to review or confirm analysts’ expectations or estimates or to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Financial Tables Follow

HUDSON HIGHLAND GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2008			2007			2008			2007
Revenue	$	207,378		$	288,842		$	1,080,231		$	1,173,053
Direct costs		120,921			159,430			616,099			667,180
Gross margin		86,457			129,412			464,132			505,873
Operating expenses:
Selling, general and administrative		89,860			116,330			443,985			465,728
Acquisition-related expenses		—			837			—			5,299
Depreciation and amortization		3,420			3,525			14,795			14,607
Business reorganization expenses		6,267			(276	)		11,588			4,362
Merger and integration (recoveries) expenses		—			8			38			(787	)
Goodwill and other impairment charges		67,087			—			67,087			—
Total operating expenses		166,634			120,424			537,493			489,209
Operating (loss) income:		(80,177	)		8,988			(73,361	)		16,664
Other income (expense):
Interest, net		195			194			1,061			700
Other, net		1,618			(239	)		3,518			3,445
(Loss) income from continuing operations before income taxes		(78,364	)		8,943			(68,782	)		20,809
(Benefit) provision for income taxes		(94	)		4,672			8,629			16,917
(Loss) income from continuing operations		(78,270	)		4,271			(77,411	)		3,892
(Loss) income from discontinued operations, net of income taxes		(2,060	)		7,694			3,093			11,089
Net (loss) income	$	(80,330	)	$	11,965		$	(74,318	)	$	14,981
Basic income (loss) per share:
(Loss) income from continuing operations	$	(3.12	)	$	0.17		$	(3.07	)	$	0.15
(Loss) income from discontinued operations		(0.08	)		0.30			0.12			0.44
Net (loss) income	$	(3.20	)	$	0.47		$	(2.95	)	$	0.59
Diluted income (loss) per share:
(Loss) income from continuing operations	$	(3.12	)	$	0.16		$	(3.07	)	$	0.15
(Loss) income from discontinued operations		(0.08	)		0.30			0.12			0.43
Net (loss) income	$	(3.20	)	$	0.46		$	(2.95	)	$	0.58
Weighted average shares outstanding:
Basic		25,099			25,443			25,193			25,274
Diluted		25,099			26,058			25,193			25,914

HUDSON HIGHLAND GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEET

(in thousands, except per share amounts)

(unaudited)

	December 31, 2008			December 31, 2007
ASSETS
Current assets:
Cash and cash equivalents	$	49,209		$	39,245
Accounts receivable, net		128,578			187,981
Prepaid and other		15,683			18,389
Current assets from discontinued operations		—			13,460
Total current assets		193,470			259,075
Goodwill		—			73,442
Other intangibles, net		2,498			4,793
Property and equipment, net		24,512			29,470
Other assets		10,473			7,214
Non-current assets from discontinued operations		—			212
Total assets	$	230,953		$	374,206
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	15,833		$	20,988
Accrued expenses and other current liabilities		77,717			120,322
Credit facility and current portion of long-term debt		5,307			243
Accrued business reorganization expenses		5,724			3,490
Current liabilities from discontinued operations		—			7,383
Total current liabilities		104,581			152,426
Accrued business reorganization expenses, non-current		1,476			2,689
Other non-current liabilities		16,904			18,976
Total liabilities		122,961			174,091
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000 shares authorized; none issued or outstanding		—			—
Common stock, $0.001 par value, 100,000 shares authorized; issued: 26,389 and 25,691 shares, respectively		26			26
Additional paid-in capital		450,739			444,075
Accumulated deficit		(362,905	)		(288,587	)
Accumulated other comprehensive income—translation adjustments		27,054			44,946
Treasury stock, 1,140 and 25 shares, respectively		(6,922	)		(345	)
Total stockholders’ equity		107,992			200,115
	$	230,953		$	374,206

HUDSON HIGHLAND GROUP, INC.

SEGMENT ANALYSIS

(in thousands)

(unaudited)

For the Three Months Ended December 31, 2008	Hudson Americas			Hudson Europe			Hudson Asia Pacific			Corporate			Total
Revenue	$	52,394		$	84,232		$	70,752		$	—		$	207,378
Gross margin	$	14,115		$	42,760		$	29,582		$	—		$	86,457
Adjusted EBITDA (1)	$	(546	)	$	4,010		$	263		$	(7,130	)	$	(3,403	)
Business reorganization expenses (recoveries)		1,237			1,634			2,399			997			6,267
Merger and integration expenses (recoveries)		—			—			—			—			—
Goodwill and other impairment charges		40,748			19,598			6,741			—			67,087
EBITDA (1)		(42,531	)		(17,222	)		(8,877	)		(8,127	)		(76,757	)
Depreciation and amortization		1,112			1,325			917			66			3,420
Operating income (loss)	$	(43,643	)	$	(18,547	)	$	(9,794	)	$	(8,193	)	$	(80,177	)
For the Three Months Ended December 31, 2007	Hudson Americas			Hudson Europe			Hudson Asia Pacific			Corporate			Total
Revenue	$	68,482		$	113,561		$	106,799		$	—		$	288,842
Gross margin	$	21,041		$	59,815		$	48,556		$	—		$	129,412
Adjusted EBITDA (1)	$	1,208		$	10,120		$	8,736		$	(6,982	)	$	13,082
Acquisition-related expenses		—			837			—			—			837
Business reorganization expenses (recoveries)		(118	)		—			(34	)		(124	)		(276	)
Merger and integration expenses (recoveries)		2			—			—			6			8
EBITDA (1)		1,324			9,283			8,770			(6,864	)		12,513
Depreciation and amortization		1,070			1,373			1,037			45			3,525
Operating income (loss)	$	254		$	7,910		$	7,733		$	(6,909	)	$	8,988

(1) Non-GAAP earnings before interest, income taxes, special charges, other non-operating expense, and depreciation and amortization (“Adjusted EBITDA”) and non-GAAP earnings before interest, income taxes, other non-operating expense, and depreciation and amortization (“EBITDA”) are presented to provide additional information about the company’s operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. Adjusted EBITDA and EBITDA should not be considered in isolation or as a substitute for operating income, cash flows from operating activities, and other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the company’s profitability or liquidity. Furthermore, adjusted EBITDA and EBITDA as presented above may not be comparable with similarly titled measures reported by other companies.

HUDSON HIGHLAND GROUP, INC.

SEGMENT ANALYSIS

(in thousands)

(unaudited)

For the Year Ended December 31, 2008	Hudson Americas			Hudson Europe			Hudson Asia Pacific			Corporate			Total
Revenue	$	273,647		$	411,528		$	395,056		$	—		$	1,080,231
Gross margin	$	75,016		$	216,297		$	172,819		$	—		$	464,132
Adjusted EBITDA (1)	$	3,999		$	23,041		$	21,384		$	(28,277	)	$	20,147
Business reorganization expenses (recoveries)		3,062			3,028			4,501			997			11,588
Merger and integration expenses (recoveries)		—			38			—			—			38
Goodwill and other impairment charges		40,748			19,598			6,741			—			67,087
EBITDA (1)		(39,811	)		377			10,142			(29,274	)		(58,566	)
Depreciation and amortization		4,629			5,793			4,148			225			14,795
Operating income (loss)	$	(44,440	)	$	(5,416	)	$	5,994		$	(29,499	)	$	(73,361	)
For the Year Ended December 31, 2007	Hudson Americas			Hudson Europe			Hudson Asia Pacific			Corporate			Total
Revenue	$	291,526		$	466,384		$	415,143		$	—		$	1,173,053
Gross margin	$	87,495		$	237,518		$	180,860		$	—		$	505,873
Adjusted EBITDA (1)	$	(114	)	$	33,359		$	33,428		$	(26,528	)	$	40,145
Acquisition-related expenses		3,551			1,748			—			—			5,299
Business reorganization expenses (recoveries)		541			2,438			(15	)		1,398			4,362
Merger and integration expenses (recoveries)		(50	)		—			—			(737	)		(787	)
EBITDA (1)		(4,156	)		29,173			33,443			(27,189	)		31,271
Depreciation and amortization		4,353			6,043			3,936			275			14,607
Operating income (loss)	$	(8,509	)	$	23,130		$	29,507		$	(27,464	)	$	16,664

(1) Non-GAAP earnings before interest, income taxes, special charges, other non-operating expense, and depreciation and amortization (“Adjusted EBITDA”) and non-GAAP earnings before interest, income taxes, other non-operating expense, and depreciation and amortization (“EBITDA”) are presented to provide additional information about the company’s operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. Adjusted EBITDA and EBITDA should not be considered in isolation or as a substitute for operating income, cash flows from operating activities, and other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the company’s profitability or liquidity. Furthermore, adjusted EBITDA and EBITDA as presented above may not be comparable with similarly titled measures reported by other companies.